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Question I have... Can I pay EBay with a Discover Card without paypal? Looking forward for any comment. My 2nd question... I posted this in the BK forum, but some people suggested I not go that route. I wanted to report here for additional exposure and to ask what you would do in my situation?. |
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You betcha! although you might wanna make sure and wait for another member here to confirm it as I am not quite sure. Better yet, why don't you ask the Discover Card guys because they can give you help better...
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I would be very surprised if you will pass the means test for a Chapter 7..that means chapter 13 and payment arrangements. If thats the case, better to just bite the bullet, pay the bills, and save your credit rating..
My thoughts:. 1) $2K/month is a lot for a single persons rent/utilities, go find you a cheaper apartment or get a roommate.. 2) Sell the bike and buy you a $1,000 beater. Thats $200/month more to eat on. Bike just sits in the garage when it rains/snows anyway.. 3) Look into snowballing your credit cards.. 4) Go get a second job to pay the bills. Even working minimum wage on weekends will give you another $500/month or so to throw at the bills... |
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You need to cut down on your expenses. Got that nice and fancy $120 a month cable package? How about unlimited minutes you never use?.
Have you called any of your creditors and ask them to give you a payment plan or interest break or anything else they can offer?. 2k rent is too much, you can get a way with low 1000's if not 1000.. Sell stuff you can always buy back later on ebay, garage sale etc..... Like you said you can either stress out about this and be miserable for the next 7-10 years or you can lower you life style, which you shouldn't have been living in the first place, to something lower for a couple of years and pay off the bills.. You have to accept change cause obviously you can't just count on your income completely... |
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Wow, 50k in debt is indeed a little excessive. sucks..
Can you sell anything to try to pay down a card or two?. At those rates, it's going to be pretty tough to make any progress on those balances. BK is a very valid option. you'll be free and clear to buy a home & etc in your 30s and probably better with managing debt from the experience... |
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This +1000, depending on where you are geographically. I'm single and make less than you. My rent is $807. My cell phone is $66. My electric is $80-100. My water is $25.
My internet was $38 but I'm switching down to $33 DSL. I do splurge $18 for Netflix. So, that totals: $1031.. Then I pay $400 every six months for auto insurance and $165/year for renter's insurance and $150/month for an HSA health plan (high deductible).. What other bills do you have that add up to $2000/month? Or where do you live that rent is really high?.. |
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1. I live in southern california, rent here is ridiculous. I work from home and I need a place to myself so sharing a place is out of the question..
2. I owe more than the bike is worth. I honestly don't even need the bike. I owe about 2000-3000 more than the bike is worth.. 3. Any tips or strategies on calling the Discover card company to tell them to lower my rate?. Thank you for your time and input... |
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Rent $1300.
Internet Bill $50 (i work from home). Electricity $100. Phone bill $100 (working from home, main work phone). Food $400 a month. Gas for vehicle $200.. |
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400 a month for single person?.
I don't even pay that... That's like 100 a week. I can get buy on 50/week specially if I watch sales. That's 2/3meals a day and I don't go out to eat, or order take out... |
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I know Discover credit card companies used to not work with you until you were 60-90 days late then they would. But give then economy and how things have changed, I have a feeling some of them, if not all of them can help out somehow. I'v read of different ways each one can help. So just google or call them up, you have nothing to lose..
P.S I know of two common internet providers, comcast and mediacom, who provide home phone service for about $30 a month which includes unlimited local and long distance call, kind of like vonage. That could save you some cash. You just have to get creative.. This post has been edited by. Hkbushido. : 18 January 2010 - 08:11 PM.. |
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Rent: $1300 seems high to me for my area; is it normal for your area or are you in a bigger place than you need? Now, I'm not saying move to a cheaper place necessarily...depending on when your current lease is up and the actual cost of moving may negate any savings..
Edit: oops...saw above that you are in Southern Cal. So I'll have to lay off about the $$$ for rent.. Food: $400 - seems high to me too. I eat out way more than I should but still spend well less than $250.. Gas: $200 - what?! for a motorcycle when you say you work at home? Um, how? Now, maybe I'm just being ignorant about motorcycles...the only thing I know about them was that my brother had one years ago that got 50+mpg and a friend of mind suffered a compound fracture of his leg in an accidnet...but MPG should be way better than my car for example and I commute to work daily and still only spend $110 on gas per month. (3 fill ups a month).. This post has been edited by. Texasnightowl. : 18 January 2010 - 08:17 PM.. |
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The bike is a purchase that I now regret. The 200 a month is gas for the car. It is an older 1993 car that has a v6 engine that gets about 16-20 mpg. Gas prices in CA are between 3-3.25 at the current moment. I don't owe any money on the car, but the hassle and what the car is worth is not worth selling and trying to get a car with better gas milage...
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I'm glad I don't spend $200/month on gas for my SUV.
But there is a down-side to. "ECONOMY". CRACKER BOX = DEATH TRAP. (or hit a bumper of the car in front of you and your tin can is totaled). Happened to me twice while stopped at. RED LIGHTS. (good thing it was me that they hit...no damage to my tank).. |
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"IF" you actually went out and bought something with way higher gas mileage...your.
TOTAL COST WOULD PROBABLY BE HIGHER THAN IT IS NOW.. |
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Do you think you will need your credit for any purchases for the next 13 years? My guess would be 'yes'.
You can only eat an elephant one bite at a time, 7 years of payments though tough is a better decision than 13 years of bad credit and higher rates applied to everything financial you want to do going forward.. Usually, a person needing to file BK has a horror story to share rather than it's 'just going to be tough to pay my debt' back. You dont read like a candidate, I suggest at 20 & full of energy...put together a better budget, cut lifestyle, work, and sell off items to tackle debt.. Money Management Forum can help on budget.. This post has been edited by. Operation_Home_Ownership. : 18 January 2010 - 04:21 PM.. |
